You have a blue chip asset, locked in low prop 13 prop taxes, I assume a great interest rate that's fixed, you get to depreciate the asset and have other write offs, pay down the principal, plus you'll cash flow- even more if you rent out the cottage.

There's usually a lot on Willoughby Spit and Ocean View esp the east side.

What I am interested to hear from other New Jersey (especially Ocean County and Monmouth County) Investors is what is your method of investing in real estate to purchase the property at the lowest entrance dollar amount?  

I still follow podcasts that are coming from milwaukee area.I think george strait said best, I have some ocean front property for you in arizona.....

Major ports (Air / Ocean) to Asia, the world's new economic growth centers.

@Sean Forner appraisers have 3 methods they can use to appraise a property: 1) comps2) income3) replacement costsEven if there are no comps and your property is on an island in the middle of the Pacific Ocean methods 2 & 3 are still viable. 

Ocean is just three hours away. 

It still is very much a blue collar working neighborhood, more rural, but not ghetto.

Blue collar neighborhoods seem to be where the money is at in Milwaukee. 

I'm working on a Key West style remodel located one house from the Intracoastal Waterway, 6 blocks from the ocean in Florida.